Travel prices during a recession

What happens to prices of air travel and hotels during a worldwide recession. My thinking goes something like this - businesses cut back on trips or the number of people they send, individuals cut back on unnecessary trips to see the in-laws, hotels start offering special deals to draw heads and airfare falls? Planning a trip to China in late January wondering if I should book now or wait. Price of the trip has dropped 10% in the last month using Expedia…maybe I should keep waiting…

I would keep waiting. Demand for foreign travel is going to dry up much more.

Every cloud has a silver lining, I’m gonna have the plane to myself! :slight_smile: